eBay rumoured to be buying ASOS
Online retailer eBay is rumoured to be buying a stake in e-commerce site ASOS, months after the clothing retailer issued a profit warning following a slowdown in its overseas expansion.
Shares in ASOS, which have fallen sharply in recent months following a warehouse fire and reduced margins, jumped on Wednesday after rumours began to circulate that a number of US firms including eBay are in the running to make a bid on the retailer, according to The Independent.
The majority stakeholder Bestseller, a Danish fashion company, has reportedly been approached by a number of prospective bidders.
Both eBay and ASOS were unavailable for comment at the time of publication.
In June ASOS chief executive Nick Robertson said that despite the fact that its profit performance was "not what we had hoped for", the retailer would continue to focus its efforts on rolling out the brand globally.